This report, which is available in life and non-life versions, provides a summary of our observations on what insurers’ analytics function will look like in the future, the challenges carriers are currently facing to make this transition, and how they can address them. We base our observations on our experience serving a large portion of US carriers. We supplemented our findings through conversations with executives at a representative sample of these carriers, including life, commercial P&C, health and specialty risk.
We also specifically address the issue of recruitment and retention of data scientists within the confines of the traditional insurance company structure.
Our survey of leading insurers shows that carriers are increasingly looking to integrate data scientists into their organizations. This is one of the most compelling and natural opportunities within the analytics function.
Richard de Haan
Actuarial Leader, PwC US
Actuarial Services Advanced Analytics Leader, PwC US
Manager, Actuarial Services, PwC US
Actuarial Director, PwC US